H Financial Risk Identification And Evaluation From The Perspective Of Vertical Integration Of Enterprises

With the improvement of social and economic development speed,the textile industry has embarked on the road of rapid development,and enterprises vigorously implement the vertical integration strategy.However,in recent years,influenced by the downward trend of international trade,the intensification of domestic market competition and the transformation of textile industry chain,the implementation of the vertical integration strategy of our textile industry has been severely restricted.Therefore,it is of great theoretical and practical significance to analyze the implementation process of vertical integration of textile enterprises,judge the influence of the degree of vertical integration on the financial risk of enterprises,comprehensively evaluate the financial risk of textile enterprises and put forward countermeasures,so as to stabilize the implementation of vertical integration strategy and reduce the financial risk of textile enterprises in the turbulent economic environment.This thesis takes the financial risk in the process of vertical integration of Chinese enterprise H as the research object,establishes the research framework of the financial risk in the process of vertical integration of enterprise H,analyzes the degree of vertical integration of enterprise H by using the VAS value-added method,and on this basis analyzes the financial risk of enterprise H in the process of vertical integration and the relationship between vertical integration and financial risk by disintegrating the Z model.This paper comprehensively evaluates the financial risk level of H enterprise,and puts forward the countermeasures for the overall financial risk of H enterprise in the process of vertical integration.The possible innovation points of this paper are as follows:The research perspective is relatively novel.Through the literature keyword analysis,it is known that the current scholars mainly focus on the research of vertical integration in the aspects of development strategy,enterprise performance,vertical integration and transaction costs,and fail to investigate from the perspective of enterprise financial risk.At present,scholars have explored the financial risk research from multiple perspectives,but the research objects are mainly commercial banks,real estate,mining,non-ferrous metal industries,and few study the financial risk of the textile industry.Studies on financial risk from the perspective of vertical integration mainly focus on financial integration,enterprise merger and acquisition,integration of industry and finance,and few explore financial risk changes from the perspective of vertical integration.